Qingdao, A Venture Capital City Is Rising Up

The city rises, and capital moves towards "new"!

QINGDAO, China, May 29, 2024 /PRNewswire/ -- On May 28th, with the theme of "Venture and Capital for a New Era Innovation and Entrepreneurship for a Brighter Future ", the "2024 Qingdao Venture Capital Conference ", hosted by the Qingdao Municipal People's Government and co-organized by CVINFO, opened at the Shangri-La Hotel in Qingdao. The one-and-a-half-day conference, which combines online and offline formats, has gathered more than a hundred industry experts, scholars, and entrepreneurs from internationally renowned investment banks and leading venture capital and private equity institutions to discuss the opportunities and future of capital and to activate new drivers for high-quality development.

A Conference with High "Gold Content"

In 2019, Qingdao set the goal of building a venture capital and private equity center and tailored the venture capital and private equity conference as a platform for gathering high-quality financial resources. Over the past five years, the influence of the conference has been continuously increasing and has become an important window for the venture capital and private equity industry to pay attention to the development of Qingdao.

Compared with the previous five sessions, this session of the 2024 Qingdao Venture Capital Conference has higher "gold content".

• Introducing a high "gold content" policy package.

Leveraging the advantages of policy transmission, innovation, and inclusiveness, we have made efforts to plan and layout the "five major articles", enabling more accurate empowerment of scientific and technological innovation, which is the "best solution" for capital to serve the real economy.

For this reason, at this conference, the "Qingdao Further Support for the High-Quality Development of the Financial Industry Policy Measures" and the "Several Policies on Strengthening the Joint Linkage of Fiscal and Financial Support for the High-Quality Development of the Whole City" were released, aiming at the goal of "building a strong financial city", further optimizing the policy environment, and contributing to the high-quality development of the whole city.

The two newly formulated policy systems are comprehensive in content, extensive in coverage, highlight key points, and have strong competitiveness, which will further promote the "two-way rush" between the city and capital power, and the "two-wing flight" of industry and new quality productive forces development. Enable venture capital and private equity institutions to invest successfully, thrive, and reap rewards in Qingdao."

The landing of high "gold content" projects once again demonstrates Qingdao's sincerity and confidence in attracting and serving high-quality development through project introduction and landing services.

At the conference, the Qingdao Municipal Government signed a strategic cooperation agreement with CICC, using the project resources and professional advantages of the leading investment bank to focus on major strategies, key areas, and major projects, providing comprehensive financial services, contributing to the development of Qingdao's capital market and economic social development.

• Focus on high-quality project signing to build a modern industrial system in Qingdao.

For example, Capital Management Co., Ltd., a subsidiary of Shandong Energy Group, has established a 7 billion yuan technology industry fund, helping expand the new development pattern of industrial investment in Qingdao; New energy vehicle new power millet Xiaomi fund invested in Qingdao Yunlu New Energy Technology Co., Ltd., Upgrading industry level in Qingdao; Hisense Group's fund manager completed the registration, marking the full coverage of direct investment platforms for large enterprises in Qingdao.

A Conference with a Strong "Vane" Color

The "vane" color of this session of the venture capital and private equity conference is more intense.

The Political Bureau of the CPC Central Committee held on April 30 proposed that it is necessary to develop new quality productive forces according to local conditions, strengthen the layout of national strategic scientific and technological forces, cultivate and expand emerging industries, advance the layout and construction of future industries, and use advanced technology to empower the transformation and upgrading of traditional industries. It is necessary to actively develop venture capital and expand patient capital.

In terms of actively cultivating emerging industries and future industries, the 2024 Government Work Report proposes to "encourage the development of venture capital and equity investment, and optimize the function of industrial investment funds".

The Central Economic Work Conference held in 2023 proposed to "encourage the development of venture capital and equity investment". When explaining the spirit of the Central Economic Work Conference in detail, the relevant responsible comrade of the Central Finance Office said: "It is necessary to encourage the development of venture capital and equity investment, and support long-term capital and patient capital to invest more in scientific and technological innovation. "

How can capital empower new quality productivity? How to cultivate more patient capital, guests attending this forum expressed their opinions and offered solutions respectively.

Tu Guangshao, Executive Director of Shanghai Advanced Institute of Finance, brought a keynote speech on "Global Industrial Chain Restructuring and New Opportunities for China's Industrial Economy"; Chen Wenling, Chief Economist, Executive Deputy Director, and Deputy Director of the Academic Committee of China Center for International Economic Exchanges, shared wonderful insights on "Developing New Quality Productivity and Promoting Sustainable Development"; Du Pengfei, Party Committee Member and Management Committee Member of China International Capital Corporation Limited, expressed wonderful views on "Practice and Thinking of Capital Investment".

In addition, Zhang Wei, Chairman of CoStone Capital, and Zheng Weihe, Chairman and Founding Partner of Cowin Capital, and other heads of domestic leading venture capital institutions elaborated on the development of the innovation system and the capital market, the innovation and development of China's equity investment, and the acceleration of the construction of Qingdao's venture capital and private equity ecology.

The guests generally believe that through efficient financial empowerment of new quality productivity, it is not only an important part of deepening the reform of the Supply-side Structural but also an important action to implement the spirit of the Central Financial Work Conference. In the process of accelerating the cultivation and development of new quality productivity, science and technology are equally important, and actively developing venture capital and jointly growing patient capital is the key to the transformation and development of the financial industry towards the new and the real.

In order to thoroughly implement the spirit of the Central Committee on actively cultivating and building a financial culture with Chinese characteristics, and actively practice the requirements of the financial culture with Chinese characteristics in the field of equity investment, combined with the characteristics and cultural connotation requirements of the equity investment field, the 2024 Qingdao Venture Capital and Private Equity Conference also initiated the "Initiative for the Construction of Chinese Equity Investment Culture" in the Chinese venture capital and private equity field for the first time, calling for the promotion of industry cultural connotation and the strengthening of the standard requirements for industry development.

A Conference to Create a High-Quality Capital Matrix

A high-quality capital matrix is the basic "base" for serving new quality productivity.

For a city, in a high-quality capital matrix, the government's guiding fund with the effect of "lifting a thousand pounds with four taels" is indispensable, and one of its missions is to highlight the policy guidance function, guiding funds to flow to key technical fields that the market dares not invest in and where there is a large demand for funds, cultivating emerging industries and future industries, and filling the long-term capital gap.

On the afternoon of May 28, the 2024 Government Guidance Fund Ecological Conference, led by the Municipal Finance Bureau and the Municipal Guidance Fund Trusteeship Management Agency, was grandly held. More than a hundred well-known investment institutions, business representatives and industry experts gathered together to link the guidance funds through the conference. Various cooperative institutions and resource parties held discussions around the development direction of venture capital and equity investment, the virtuous cycle of government-guided funds, and the development of new quality productivity in venture capital and venture capital services, and conducted in-depth discussions on the fundraising, investment, and development of venture capital and venture capital industries. The core issues faced by management and withdrawal of various chains, and interpretation of the current status and development direction of key industries and hot spots.

In addition, the conference also cooperated with the city's listed emerging industry professional parks to carry out project roadshows, organized on-site reviews of venture capital and venture capital institutions, expanded the influence of high-quality enterprises, smoothed the two-way docking channels for funds and project investment and financing, and led the venture capital to inject vitality into the fertile industrial soil. , connect industrial clusters and promote high-quality economic development.

At the conference, CVINFO also used the outstanding investment institutions' establishment of funds, investment projects and project exit results in Qingdao in the past three years as a benchmark to discover and commend outstanding investors who have made outstanding contributions to the construction of Qingdao's international venture capital and venture capital center. Partners, attract more outstanding investors to become Qingdao city partners, and provide a reference for Qingdao to build a high-quality capital matrix.

It is worth mentioning that this conference actively advocates the practice of green investment concepts and uses digital RMB payment to purchase the carbon emission reductions of Qingdao's carbon inclusive platform "lcago" to neutralize this venture capital investment. The carbon emissions generated in transportation, catering, accommodation, conference affairs, etc. during the conference have achieved a "zero-carbon conference" and provided a reference for enterprises and financial institutions to serve green and low-carbon development.

Capital empowers industry, new quality drives development. In this warm season, let's turn our attention to the 2024 Qingdao Venture Capital Conference.

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SOURCE CVINFO